Sales growth in passengers’ vehicle in India is the highest in the world. The information came in lime light when the Society of Indian Automobile Manufacturers (Siam) presented the data for the June quarter in which the recorded growth of India was 18.2%.

After India, other countries which registered positive growth were -America with 14.4%, Germany with 14.3% and China with 11%.China’s position has dropped drastically as compared to last year as China was former topper.

India settled at fourth position with 12.4% in commercial vehicles and was in advance to France, Italy and Japan whereas China had registered negative growth of mere 4%.

Irrespective of India’s global standing, its position in domestic market was not praise worthy, as passengers vehicle sale rose up to just 9%, two-wheeler sale rose up to 18% as compared to 26% in last year. Three -wheeler sales also declined.

SIAM president Pawan Goenka, informed that though the condition of automobile industry is passing through a tough time but it won’t go in negative.

According to Goenka, growth projections have been revised and as per the predictions there would be an increase of 11% to 13%. He also mentioned that inflation and increasing interest rates are contributing factors for the feeble condition of the market. Commodities price like iron, steel, copper, natural rubber has also not risen as expected in the June quarter.